Grabbing Value from Big Data: Mining for Diamonds in Financial Services
Big data is not just a technology issue nor is it only about data. Big data is about enabling business users to make decisions that create value. It is important to define what the technology toolset must address to enable financial institutions to establish organizational trust and harness the innovation possibilities of big data. But banks, insurance companies and investment firms tackling big data should not limit their focus to the technology solution. The goal should be to help business leaders–CMOs, CFOs and others—make better sense of the real data they have, get to it quickly and make valuable decisions.
What do financial services firms need to know to derive the right business opportunities from big data? This paper focuses on helping FS companies maximize the value they generate from big data from the business perspective. To better understand the technology component of big data value generation, see Grabbing Value from Big Data: The New Game Changer for Financial Services.